Bank of America Corp DE Buys New Holdings in Skyworks Solutions, Inc. $SWKS

Key Points

• Bank of America acquired 2.67 million Skyworks Solutions shares worth approximately $180.9 million, giving it a 1.77% stake. Other major institutions, including BlackRock and Pzena Investment Management, also initiated sizable positions.
• Skyworks beat quarterly estimates with adjusted EPS of $1.08 and revenue of $934.8 million, but revenue declined 3.1% year over year and EPS fell from $1.33 in the prior-year quarter.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and $74 target price, well below the stock’s recent $91.32 price; several analysts recently lowered their targets or maintained underperform ratings.

Bank of America Corp DE purchased a new position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,668,118 shares of the semiconductor manufacturer's stock, valued at approximately $180,898,000. Bank of America Corp DE owned about 1.77% of Skyworks Solutions at the end of the most recent quarter.

Several other large investors have also made changes to their positions in SWKS. BlackRock Inc. acquired a new position in shares of Skyworks Solutions in the 2nd quarter valued at $1,393,584,000. Pzena Investment Management LLC acquired a new stake in Skyworks Solutions in the second quarter valued at approximately $1,082,972,000. Bank of New York Mellon Corp purchased a new stake in shares of Skyworks Solutions in the second quarter valued at approximately $143,597,000. Norges Bank acquired a new position in shares of Skyworks Solutions during the 4th quarter worth approximately $121,304,000. Finally, Capital Research Global Investors purchased a new position in shares of Skyworks Solutions during the 4th quarter valued at approximately $102,279,000. 85.43% of the stock is owned by hedge funds and other institutional investors.

Skyworks Solutions Stock Performance

NASDAQ:SWKS opened at $91.32 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.94 and a current ratio of 3.10. The stock has a market capitalization of $13.74 billion, a P/E ratio of 47.32, a PEG ratio of 2.35 and a beta of 1.52. The company has a 50 day moving average price of $68.32 and a 200 day moving average price of $65.85. Skyworks Solutions, Inc. has a fifty-two week low of $51.93 and a fifty-two week high of $92.30.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last announced its earnings results on Tuesday, July 28th. The semiconductor manufacturer reported $1.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.03 by $0.05. The company had revenue of $934.80 million for the quarter, compared to analyst estimates of $925.97 million. Skyworks Solutions had a return on equity of 10.74% and a net margin of 7.23%.The firm's quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.33 earnings per share. Skyworks Solutions has set its Q4 2026 guidance at 1.270-1.270 EPS. Equities research analysts forecast that Skyworks Solutions, Inc. will post 3.64 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on SWKS shares. Citigroup cut their target price on shares of Skyworks Solutions from $77.00 to $64.00 and set a "neutral" rating for the company in a research note on Wednesday, July 29th. Bank of America restated an "underperform" rating and set a $65.00 price target on shares of Skyworks Solutions in a research report on Wednesday, July 29th. Benchmark reaffirmed a "hold" rating on shares of Skyworks Solutions in a research note on Monday, July 27th. KeyCorp downgraded shares of Skyworks Solutions from an "overweight" rating to a "sector weight" rating in a report on Tuesday, July 14th. Finally, Mizuho decreased their target price on shares of Skyworks Solutions from $55.00 to $52.00 and set an "underperform" rating on the stock in a research note on Wednesday, July 29th. Four equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Skyworks Solutions has a consensus rating of "Hold" and a consensus target price of $74.00.

Skyworks Solutions Company Profile

Skyworks Solutions, Inc NASDAQ: SWKS is a semiconductor company that develops and manufactures analog and mixed-signal products used to connect people, devices and networks. Its portfolio includes radio-frequency (RF) and wireless connectivity components such as amplifiers, attenuators, filters, switches, modulators, front-end modules and integrated solutions.

The company's products are designed for applications including smartphones and other mobile devices, automotive systems, broadband and wireless infrastructure, industrial equipment, medical devices, smart-home products and the Internet of Things.

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